Strategies to Attract Foreign Investment and Boost Savings Urged by Trade Bodies in Britain
Britain is aiming to attract up to $10.2 billion in additional foreign sovereign investment by 2030 through a strategic long-term plan, according to a recent report. The City of London Corporation is advocating for a financial and professional services strategy to draw in more funds as Prime Minister Keir Starmer prepares to host an international investment summit. Chancellor Rachel Reeves has highlighted the importance of increasing foreign direct investment to address the public finance gap of 22 billion pounds.
A proposed streamlined system led by a public-private council chaired by the Chancellor is recommended by Chris Hayward, Policy Chairman of the City of London. The report suggests that sovereign wealth and public pension funds have significantly increased their investments in the UK after establishing a presence in the country, resulting in an additional 13.4 billion pounds in investments across various sectors.
Meanwhile, the Investment Association is calling for an Inclusive Investment Strategy in the upcoming Budget to encourage more savings and investments by UK households. A survey revealed that many pension holders over 55 lack confidence in saving enough for retirement. Chris Cummings, Chief Executive of the Investment Association, emphasized the need to change the risk-averse financial culture in the UK.
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Emma Collins, graduated in Financial Economics from the University of Chicago in the USA in 2016. She has since worked at an asset management firm in New York, where she specializes in investment strategies and portfolio management. Emma has a keen interest in financial analysis and has published several articles in renowned financial journals. Her work focuses on providing actionable insights to investors, and she is known for her forward-thinking approach to managing financial portfolios.